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TRANS HEX TO COUNTERCLAIM IN DIAMOND FIELDS INTERNATIONAL LIMITED (DFI) ACTION

Release Date: 14/11/2002 17:47
Code(s): TSX
Wrap Text

TRANS HEX TO COUNTERCLAIM IN DIAMOND FIELDS INTERNATIONAL LIMITED (DFI) ACTION TRANS HEX GROUP LIMITED NEWS RELEASE JSE CODE : TSX NSX CODE : THX ISIN : ZAE000018552 TRANS HEX TO COUNTERCLAIM IN DIAMOND FIELDS INTERNATIONAL LIMITED (DFI) ACTION Trans Hex will vigorously defend the action instituted in the Cape Town High Court by foreign-based DFI for US$19,5 million based on an alleged repudiation of the joint venture agreement over the Marshall Fork concession in Namibia. Trans Hex is currently finalising a substantial counterclaim in this action. Trans Hex, a 7% shareholder in DFI, is monitoring the dispute between the current board of directors of DFI and DFI`s largest shareholder, who intends opposing the re-election of the existing DFI board of directors and nominating new directors at the annual general meeting of DFI on 21 November 2002. Ends Date: 14/11/2002 05:46:46 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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